Condominium Corporation Overview
Toronto Standard Condominium Corporation 1431
May Tower Developments Ltd. is a corporation incorporated under the laws of the Province of Ontario.
- May Tower I - MTCC #1256
1 Lee Centre Drive
(Managed by Brookfield Residential)
- May Tower II - TSCC #1431
11 Lee Centre Drive
(Managed by Shiu Pong Management Limited)
In Ontario, condominiums are governed by the Condominium Act, 1998 with each development establishing a corporation to deal with day-to-day functions (maintenance, repairs, etc …). A board of directors is elected by the owners of units in the development on at least a yearly basis. A general meeting is held annually to deal with board elections and the appointment of an auditor (or waiving of audit). Other matters can also be dealt with at the Annual General Meeting, but special meetings of the owners can be called by the board and, in some cases, by the owners themselves, at any time.
The Condominium Act, 1998 came into force on May 5, 2001. Materials were developed to assist staff and clients of the Land Registration System with the registration of the various types of condominiums permitted under the Act. Click here to download a printable PDF version of the condominium act 1998
Maytower II Condominium By-Laws
The main difference between a bylaw and a "law" passed by a federal, state or provincial body, is that a bylaw is a regulation passed by a non-sovereign body, which derives its authority from another governing body. A municipal government gets its power to pass laws through a charter or a law of the state/provincial or federal government which specifies what things the city may regulate through bylaws.
Similarly, a business or corporate body also gets its ability to pass bylaws relevant to its operation from some law or act passed by some public body for the purpose of regulating corporate activities.